Proceeds Account definition
Proceeds Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.
Proceeds Account means a bank account of the Issuer held with a reputable bank, into which the Net Proceeds will be transferred and which has been pledged in favour of the Security Agent and the Bondholders (represented by the Security Agent) under the Proceeds Account Pledge Agreement.
Proceeds Account has the meaning set forth in Section 10(c).
Examples of Proceeds Account in a sentence
As of the Original Closing Date, the Issuer has established in the name of and for the benefit of the Issuer (i) the Concentration Account and the related Lock-Box Accounts and (ii) the Asset Disposition Proceeds Account.
Upon receipt of any Asset Disposition Proceeds from any Permitted Asset Disposition, the Manager (on behalf of the applicable Securitization Entities), in accordance with Section 5.10 of the Base Indenture, shall deposit or cause the deposit of such Asset Disposition Proceeds to the Asset Disposition Proceeds Account.
More Definitions of Proceeds Account
Proceeds Account is defined in Section 7.1.10.
Proceeds Account means a bank account of the Issuer, into which the Net Proceeds will be transferred and which has been pledged in favour of the Agent and the bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.
Proceeds Account has the meaning set forth in Section 2.04(b)(ii).
Proceeds Account has the meaning set forth in the Accounts Agreement.
Proceeds Account means the Chargor’s account number [*] with the Chargee (which is one of the Bank Accounts) or such other account as the Chargee may from time to time specify.
Proceeds Account means a bank account of the Issuer, into which the Net Proceeds will be transferred (unless all Conditions Precedent for Disbursement have been satisfied prior to the First Issue Date) and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.
Proceeds Account means, with respect to each Locality, its account by that name established under Section 4 of this Proceeds Agreement.